jabairu, page-3

Below is RWE's news bulletin regarding this subject :

Sydney - Wednesday - Feb 9: (RWE Australian Business News) -
Metals X Ltd (ASX:MLX) has confirmed it today sold 58m shares in Jabiru Metals Ltd (ASX:JML) to Independence Group NL (ASX:IGO) for a cash consideration of $48.1m or 82.91c a share.
Metals X also confirmed it had signed a pre-bid acceptance agreement with Independence to sell all of its remaining 52.47m shares in Jabiru.
This agreement provides that if Independence acquires Metals X's remaining Jabiru shares and sells or disposes of such shares within six months of acquisition, then Independence will pay to Metals X the profit on such sale less any tax payable.
Metals X was the largest shareholder in Jabiru with a relevant interest of 19.97pc or 110,468,574 shares.

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Managing director Mr Warren Hallam said: "This is an excellent outcome for Metals X shareholders.
"We acquired our holding in Jabiru 12 months ago at an average purchase price of 34.17c per share after identifying the significant value that could be realised from the Jabiru assets.
"We are happy at the offer price to support the consolidation of Jabiru with Independence and to form a larger diversified explorer and developer with strong cash flow, multi-commodity exposure and an excellent and diverse exploration portfolio that fills the gap of a mid-cap Australian owned and operated producer."